TeraWulf shares surge on $19 billion Anthropic data center deal

The agreement secures up to 401 megawatts of critical IT capacity at TeraWulf’s Justified Data campus in Hawesville, Kentucky. Deployment will occur in phases, with initial power expected in late 2027 and full operational status reached by early 2028. This move highlights a broader industry trend where Bitcoin miners leverage their existing power infrastructure to capture demand from AI developers.

To accelerate this transition, TeraWulf is divesting its 50.1% stake in the Abernathy Joint Venture to a group led by Fluidstack. This sale monetizes $450 million in capital, providing the liquidity needed to fund wholly owned AI projects. The strategy appears to be gaining traction with investors, as the stock outperformed the wider crypto market despite recent sector-wide volatility. The expansion coincides with Anthropic’s own aggressive growth, which includes restoring access to advanced models like Claude Fable 5 and Mythos 5 following the resolution of U.S. export control concerns.